BYCULLA COMMERCIAL INSTITUTE

ASSIGNMENT 1
(ACCOUNTS WITH INVENTORY)

PRODUCT LIST

PURCHASE COST SELLING COST

COMPANY PRODUCT
(PER UNIT) (PER UNIT)
WHIRLPOOL AIR COOL 25,000 28,000
BAJAJ SWEET COOL 22,000 26,000
LLYOD EASY COOL 26,000 30,000

PURCHASE TRANSACTION

PRICE PER
DATE REF NO PARTY ACCOUNT ITEM QTY TOTAL PRICE
UNIT
1.1.20XX P1 Whirlpool AIR COOL 3 25,000 75,000
4.1.20XX P2 Llyod EASY COOL 4 26,000 1,04,000
15.1.20XX P3 Bajaj SWEET COOL 2 22,000 44,000
16.1.20XX P4 Whirlpool AIR COOL 2 25,000 50,000
21.1.20XX P5 Llyod EASY COOL 2 26,000 52,000
24.1.20XX P6 Bajaj SWEET COOL 3 22,000 66,000
28.1.20XX P7 Llyod EASY COOL 2 26,000 52,000

SALES TRANSACTION

REF PARTY MODE OF PRICE PER TOTAL

DATE ITEM QTY
NO ACCOUNT PAYMENT UNIT PRICE
4.1.20XX S1 Whirlpool AIR COOL 3 Cheque 28,000 84,000
8.1.20XX S2 Llyod EASY COOL 4 Cash 30,000 1,20,000
19.1.20XX S3 Amir Khan SWEET COOL 2 Credit 26,000 52,000
22.1.20XX S4 Whirlpool AIR COOL 2 Cheque 28,000 56,000
25.1.20XX S5 Vinod Khanna EASY COOL 2 Credit 30,000 60,000
27.1.20XX S6 Bajaj SWEET COOL 3 Cash 26,000 78,000
29.1.20XX S7 Salman Khan EASY COOL 2 Credit 30,000 60,000

RECEIPT TRANSACTION

DATE PARTY ACCOUNT MODE OF PAYMENT AMOUNT

6.1.20XX R.K.Capital Cheque 5,00,000
8.1.20XX Yes Bank Loan Cheque 1,00,000
15.1.20XX Repairs & Servicing Cash 50,000
18.1.20XX Amir Khan Cheque 50,000
29.1.20XX Salman Khan Cheque 60,000
29.1.20XX Repairs & Servicing Cash 65,000
 BYCULLA COMMERCIAL INSTITUTE
ASSIGNMENT 1
(ACCOUNTS WITH INVENTORY)

PAYMENT TRANSACTION

DATE PARTY ACCOUNT MODE OF PAYMENT AMOUNT

1.1.20XX Transport Charges Cheque 2,000
4.1.20XX Office Furniture Cash 8,000
15.1.20XX Lloyd Cheque 50,000
16.1.20XX Whirlpool Cash 2,00,000
21.1.20XX Personal Secretary Salary Cash 20,000
25.1.20XX Interest Paid Cheque 10,000

JOURNAL TRANSACTION

DATE Transaction AMOUNT

1.1.20XX Purchase of Personal Computer from Suyash Computers ltd on Credit 60,000

Balance Sheet 10,03,000

P & L A/C 1,82,000
Trial Balance 10,78,000